Title
Resolution authorizing the County Treasurer/Ex-Officio County Collector to designate certain banks and other financial institutions as depositories in which Lake County funds and monies may be deposited.
Staff Summary
* The County Treasurer and Ex-Officio County Collector periodically reviews the list of banks and other financial institutions in which funds and monies are deposited to ensure Lake County cash and investments are safe and that returns on investments are maximized with preservation of capital being the primary objective.
* It has been more than three years since the last review occurred.
* County Treasurer and Ex-Officio Collection, David Stolman, has recently conducted a review of these financial institutions and is recommending a modification to the list of banks and other financial institutions that will be used as depositories of Lake County cash deposits and investments.
Body
RESOLUTION
WHEREAS, David Stolman, County Treasurer and Ex-Officio County Collector of Lake County, requests this County Board to designate banks or other financial institutions in which the funds and monies of the County, within his custody as County Treasurer and Ex-Officio County Collector, may be deposited; and
WHEREAS, David Stolman, County Treasurer and Ex-Officio County Collector of Lake County, periodically reviews the list of banks and other financial institutions to ensure Lake County cash and investments are safe and that returns on investments are maximized with preservation of capital being the primary objective; and
WHEREAS, it has been more than three years since the County Treasurer and Ex-Officio County Collector has provided a recommendation of banks and financial institutions for the County Board's consideration; and
WHEREAS, recent changes to depositories used by the Lake County Treasurer's Office has resulted in the Lake County Treasurer's Office modifying its list of recommended banks and institutions.
NOW, THEREFORE, BE IT RESOLV...
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